For the past 30 years, since “trickle-down” economics was instituted, wealth has been hemorrhaging up to the richest Americans, while a majority of Americans have been losing ground. Along with this shift of wealth, there has been a disconnect between tax responsibility and the benefits that revenue from taxes provides.
To offset irresponsible tax policy, our political leaders have been borrowing money from a healthy Social Security Trust Fund and then arguing that Social Security will go broke.
Irresponsibly cutting essential earned benefits to a majority of Americans and selling off tax-generated public assets at bargain-basement prices is a crime, not a solution.
There are responsible answers to the irresponsibly created budget and debt crisis:
1. Increase the tax responsibility of the wealthiest Americans and corporations who have benefited the most over the past 30 years.
2. Tax interest, dividends and capital gains for what they are — income.
3. Institute a financial transaction tax.
4. Increase the estate tax for the wealthiest individuals.
5. Raise the income ceiling of the payroll tax.
6. Consider taxation as a civic responsibility, not punishment.
7. Cut bloated military expenditure.
8. Institute a responsible Medicare-for-all program that takes the burden off the private sector.